In theory yes, but in practice no.
Creditors are going to charge the highest rate the market will allow, regardless of the default rate.
If bankruptcies were going down, they wouldn't lower rates across the board, they'd just pad their profits.
BTW, I could also handle those things happening to me without having to do the BK dance, so could alot of people....but that doesn't mean I don't have any empathy for people who are in over their heads because they lost a job or had a medical problem.
Sure, there are deadbeats and losers who game and take advantage of the system, but lumping everyone into the same category is like saying all black people are criminals and drug dealers.
BTW, can you guess what all of these people had in common?
Walt Disney
William C. Durant (founder of GM)
PT Barnum
Ulysses S. Grant
Milton Snavely Hershey
Abraham Lincoln
Thomas Paine
Rembrandt
Donald Trump
Mark Twain
Oscar Wilde
Henry Ford
HJ Heinz